Hundreds of staff to get shares

Local Royal Mail staff in shares bonanza after privatisation

The Government plans to dispose of a majority stake in Royal Mail through a flotation on the London Stock Exchange this financial year.

Ten per cent of all the shares in the business will be handed to eligible employees.

In the whole RG postcode area, 1,211 employees will be eligible, including workers in Reading, Bracknell and Wokingham and Parcelforce Worldwide staff.

Employees will receive an equal number of free shares, with a pro-rata allocation for part-timers.

It is the first major UK privatisation where all the shares for employees will be given to them for nothing.

The provision of free shares is dependent on the company being floated on the London Stock Exchange and will not be given out if it does not go ahead.

Delivery director Alan Gairns said: “Our people are the heart of our business at Royal Mail.

“I’m very proud that I will be one of the owners of Royal Mail following a successful flotation on the stock exchange, along with my other Reading colleagues and those elsewhere around the country.

“By owning 10 per cent of the company, together we will have a meaningful stake in the business.

“I think this will engage everyone and encourage us to continue to work together to build a great future for Royal Mail.”

The company will continue to have a predominantly full-time workforce. When sold, Royal Mail will continue to have a legal commitment to a six-day-a-week, one-price-goes-anywhere universal service – enshrined in the Postal Services Act 2011.